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Mr Ashley, who also owns Newcastle United FC, has courted controversy recently, coming under fire for presiding over “Victorian” working conditions at Sports Direct’s warehouse in Shirebrook, Derbyshire.

The retailer has since moved to elect an employee to attend board meetings.

Earlier this year, American sportswear chain The Finish Line Inc disclosed that Sports Direct had bought a 7.9% stake in its business.

Some analysts believe the move could herald a full takeover bid for the chain by Sports Direct.